The Future Of Banking: Voice Banking

The Banking industry has undergone a series of transformative changes over the years, driven by technological advancements. One of the most exciting and disruptive innovations in the financial sector is voice Banking.

RBI CIRCULAR

1. Please refer to paragraph 4 of Statement on Developmental and Regulatory Policies issued as a part of the Bi-monthly Monetary Policy Statement for 2024-25 dated April 05, 2024 read with Paragraph 1.10 of the 'Operating Guidelines for Small Finance Banks' dated October 6, 2016.

UNLOCKING SOCIAL IMPACT: THE RISE OF SOCIAL BONDS IN SUSTAINABLE INVESTING

In the context of financial markets, social bonds refer to a specific type of bond issued by governments, municipalities, or organizations to raise capital for projects with social or environmental benefits.

MODERN AND CREATIVE WAYS OF MONEY LAUNDERING: A SNEAK PEEK IN MODUS OPERANDI

Every year, an astonishing $800 billion to $2 trillion circulates through the global economy as laundered money, making up 2-5% of global GDP.

TRANSFORMING FINANCE: UNDERSTANDING THE EVOLUTION OF FINTECH INNOVATION AND REGULATORY FRAMEWORKS

The constantly evolving field of financial technology, or FinTech, has brought about a significant transformation of the world's financial scene.

FINTECHS: ISSUES AND CHALLENGES

Fintech is a combination of two words \"financial\" and \"technology\".

WHY CBDC WHEN WE HAVE UPL..??

The world is rushing to develop Cash 2.0. Globally, central banks are in pursuit of Central Bank Digital Currency (CBDC) projects.

Insolvency's Group Tangle

The Insolvency and Bankruptcy Code (IBC) has been around for nearly seven years, and in these seven years, it has been amended six times. However, it is yet to address a significant concern: group insolvencies.

Why mot retirees don't find refuge in reverse mortgage

It would be the deal of the century, or so Andre-Francois Raffray could have thought. The Frenchman had in December 1965 stuck a deal with 90-year-old Jeanne Calment to pay her 2,500 francs every month until she died.

The rise and rise of mutual funds

It is curious that the cake cutting and champagne popping that accompanied the Nifty's new lifetime high in recent weeks, was not in evidence when the mutual fund industry topped Rs. 50 lakh crore in assets.

UNSECURED RETAIL LENDING IN INDIA + CAPTURING EMERGING TRENDS

Abstract: In recent times, RBI has been vocal about the high growth rate of unsecured retail credit in India as compared to the overall credit growth in the country. The RBI has termed the unsecured retail credit an outlier segment\" as far as its growth rate is concerned and has drawn the attention of banks and NBFCs in this regard. As part of regulatory intervention, RBI has also increased the risk weights associated with unsecured credit exposure of banks and NBFCs. Post this development, the banking fraternity has been divided in their understanding of the ground realities. On one hand, there is a school of thought which feels that the recent surges in the unsecured retail lending in India is backed by solid macros. Whereas, others feel that the more than expected upsurge is a sign of incipient stress and might pose systemic risk, if not dealt with an iron hand.

TRANSFORMING BANKING THROUGH ARTIFICIAL INTELLIGENCE

The transformation of banking through artificial intelligence (AI) has been a significant and ongoing trend, with numerous implications for customer experience, operational efficiency, risk management, and more.

NEED FOR CORRUPTION FREE BANKING IN INDIA

Introduction: Corruption is dishonest behaviour or abuse of entrusted power for private gain. It starts with the tendency of using public office for some personal benefit, implies the failure of ethics and erodes trust, weakens democracy, hampers economic development, undermines democratic institutions slows economic development, contributes to governmental instability and further exacerbates inequality, poverty, social division and the environmental crisis. Corruption is a complex social, political and economic phenomenon that affects all civilisations and attacks the foundation of democratic institutions by distorting electoral processes, perverting the rule of law and creating bureaucratic quagmires whose only reason for existing is the soliciting of bribes. Economic development is stunted because foreign direct investment is discouraged and small businesses within the country often find it impossible to overcome the \"start-up costs\" required because of corruption.

FROM RUPEE TO DIGITAL CURRENCY: UPI AND CBDC IN INDIA

India's remarkable digital transformation has been driven by innovative financial technologies and a vision for an inclusive, cashless economy. Two significant milestones in this journey are the Unified Payments

EMPOWERING THE DIGITAL JOURNEY: THE CRUCIAL ROLE OF STRAIGHT-THROUGH PROCESSING (STP) IN BANKING

In the ever-evolving landscape of banking and financial services, the digital revolution is reshaping industries and redefining customer expectations. As banks embark on their digital journeys to meet these changing demands, the implementation of Straight-Through Processing (STP) has emerged as a cornerstone strategy for success. STP not only streamlines internal operations but also plays a pivotal role in enhancing customer experiences, reducing costs, and fortifying the foundation for a seamless digital future.

'DIGITAL BANK' - LICENSING AND REGULATORY FRAMEWORK IN INDIA AND WAY FORWARD

Last 6 to 8 years have seen rapid development in 'Digital bank' across the world, and China is no exception. Digital banks have an entirely branchless digital service and the need for physical branches is replaced by non-stop, 24/7 customer service and automated systems.

CONCENTRATION: THE NAUGHTY MONKEY

Maintaining mental focus can be quite challenging, especially with the constant distractions we encounter on a daily basis. In today's interconnected world, it is incredibly easy to get sidetracked by notifications from social media or the latest news updates. However, having strong mental focus is vital for achieving success. The ability to concentrate on a task at hand is essential for learning, accomplishing goals, and performing well in various situations.

LLPs are required to report to the RoC on the "Significant Beneficial Owner"

The Registrar of Companies (RoC) will now require a report from a Limited Liability Partnership Firm (LLP) regarding its Significant Beneficial Owner (s) to be submitted within 30 days of the date on which the individual made the statement regarding having or obtaining that status.

CROSS SELLING IN BANKS

Marketing practitioners and banking consultants alike understand the need for relationship development in establishing and maintaining a solid customer base.

GREENWASHING HIDING TRUTH BEHIND GREEN

Greenwashing misleading refers to the practice of making or false claims about the environmental benefits of a product, service, company, or practice in order to appear more environmentally friendly than they actually are.

HARNESSING TECHNOLOGY FOR CREDIT DISPENSATION: TRANSFORMING THE UNORGANIZED SECTOR

Small business or to be very specific unorganized small business is the economic foundation of India.

EMPOWERING INDIA'S ARTISANS: PM VISHWAKARMA YOJANA

The PM Vishwakarma Yojana is dedicated to support traditional arts and crafts by providing multi-dimensional support to artisans. The initiative acknowledges the challenges faced by the sector due to modernization and market changes.

MSME FUNDING: A DIFFERENT STANDPOINT FOR BANKS IN INDIA

The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades and have been a primary focus of policymakers at the central and state levels as it is a valuable contributor to the overall economic growth and development in terms of employment, value chain creation, foreign exchange earnings, critical supplier of large industries, promotion of regional balance and inclusive development, and so on.

NEW DAWN TO OPEN BANKING: EMBRACING DIGITAL INNOVATION IN FINANCE

Open banking is a financial concept that refers to a financial services model that enables third-party providers to access financial information from banks or other financial institutions through open application programming interfaces (APIs).

REBOOT OF CUSTOMER EXPERIENCE TRENDS IN THE BANKING INDUSTRY 2023

The COVID-19 pandemic created a mega shift from physical to digital, acting as the catalyst for digital progress multiple times over.

Digital Rupee: A Currency Revolution For All??

The Indian central bank's digital currency, known as the e-rupee, is starting to gain attention.

Why there are so few women in banking

In mid-September, President Droupadi Murmu pushed for increased representation of women in the Gujarat Assembly. She also called for more representation of women in politics in general.

CHANGING FACE OF AGRI BANKING

The Banks in India have played a vital role in the development of the country's economy, be it the rural one or the urban one. More specifically, the Indian public sector banks, The Regional Rural Banks and the cooperative banks have been serving the financial needs of the rural population of the country since their very initial days.

AN OPEN CALL BY RBI FOR BANK'S TO SETTLE OUT "WILFUL DEFAULTS"

Based on recent guidelines issued by the Reserve Bank of India on Wilful Defaulters-

PUBLIC TECH PLATFORM FOR FRICTIONLESS & EASY CREDIT FLOW

The Reserve Bank of India (RBI) has announced a pilot programme for 'Public Tech Platform for Frictionless Credit'.